Home ›› 29 May 2020 ›› World Biz
Urging the United States to stop interfering in internal affairs, the government of Hong Kong warned Washington that the withdrawal of its special US status, which has underpinned the city as a global financial hub, could be a 'double-edged sword'.
The statement came as US President Donald Trump is due to announce later on Friday (May 29) his response to the Chinese parliament's advancement of national security legislation for Hong Kong, which activists and Western countries fear could erode the city's freedoms.
The former British colony enjoys a high degree of autonomy under a "one country, two systems" formula since it returned under Chinese rule in 1997.
"Any sanctions are a double-edged sword that will not only harm the interests of Hong Kong but also significantly those of the US," the city's government said late on Thursday.
It added that from 2009 to 2018, the US trade surplus with Hong Kong was the biggest among all its trading partners, totalling US$297 billion of merchandise and 1,300 US firms are based in the city.
Beijing says the new legislation will tackle secession, subversion, terrorism and foreign interference in the city. It could see Chinese intelligence agencies set up bases there.
The plan has ignited the first big protests in Hong Kong for months, as thousands of people took to the streets this week, prompting police to fire pepper pellets in the heart of the city's financial district to disperse crowds.
The US Department of State said in a report on Thursday it could "no longer certify that Hong Kong continues to warrant (differential) treatment" from Beijing.
(Source: CNA)
